Final Thoughts
Final Thoughts
Written by John Packard
June 21, 2019
We are starting to receive nominations for the 1st SMU NexGen Leadership Award. We will accept nominations through Aug. 1. Remember, we are looking for those amongst you who have been innovative, creative problem solvers, perhaps creating new systems or leading through troubled times. There are an unlimited number of reasons to nominate one of your 35-year-old or younger employees. If you have any questions, or would like something clarified, please do not hesitate to reach out to me personally: John@SteelMarketUpdate.com
If you would like more information, go to: www.SMUAward.com or you can also find information on our website at www.SteelMarketUpdate.com/Events/Steel-Summit
The next Steel 101: Introduction to Steel Making and Market Fundamentals workshop will be held on Oct. 8-9, 2019, and we will tour the Nucor Gallatin steel mill as part of the workshop. This is our first trip to Nucor Gallatin, which will have the newest coating line in the United States in operation when we tour the facility. We are working on finalizing hotel details and anticipate we will be able to begin taking registrations later this week. There is information about our Steel 101 workshop online at www.SteelMarketUpdate.com/Events/Steel101 or you can ask us at Events@SteelMarketUpdate.com
We are closing in on 750 registrations for the 2019 SMU Steel Summit Conference. There is a new listing of attending companies on our website. If your company is not there, you can register by clicking on this link or you can contact Events@SteelMarketUpdate.com. If you are unsure if you are registered, please contact Events@SteelMarketUpdate.com.
I will be in my office all this week.
As always, your business is truly appreciated by all of us here at Steel Market Update.
John Packard, President & CEO
John Packard
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Final Thoughts
Surprise, surprise. Forget Halloween, the trend this October is all around the unexpected. Known as the “October Surprise,” you never know what is in store for you in the month before a US presidential election. Still, if we pull back the dial back date-wise a little bit, a familiar theme has been added to the mix: kick the can.
Final Thoughts
Another day, another massive gap between the news and market sentiment. On the news side, we’ve got war in the Middle East. The devastation facing western North Carolina coming into tragic focus. And the outcome of the presidential election remains a coin toss, according to current polling.
Final thoughts
There are markets where the headlines and the prices are both crazy. This does not appear to be one of them, at least not yet.
Final thoughts
Washington loomed large in our surveys this week. Two things actually: the upcoming presidential election and the trade case against imported coated products from 10 nations.
Final thoughts
Thanks to everyone who attended our Steel Hedging 101 workshop in Chicago on Wednesday. I learned a lot from StoneX Group’s Spencer Johnson, who instructs the course, and from your good questions. One thing that Spencer said sticks with me as I write this column. Namely, that momentum drives steel prices more than other commodity markets. If you watch steel futures, you’ll see up days and down days. But it’s rare to see the momentum shifting back and forth within any given day.